Lower league professional football clubs are in a cycle of serious financial distress, a report today warned.

The Begbies Traynor Red Flag Alert Football Distress Report monitors the financial woes of clubs every six months.

The latest figures show six of the 72 clubs in the Championship and Leagues One and Two, are facing ‘critical’ financial pressure at the end of October 2013.

Flatlining attendances and rising costs are the main roots of the problem, Manchester-based experts behind the report said.

Accrington Stanley, Bury and Macclesfield have all faced financial difficulty this year.

Before the start of the season, Stanley lowered ticket prices in an attempt to get more fans through the gates.

And chairman Peter Marsden has since warned that ‘there won’t be an Accrington Stanley’ if things continue as they are, due to falling gate receipts.

In August, Bury Football Club was reported to be one day away from closing as it needed £1m to survive. Fortunately, an eleventh hour takeover was completed by new chairman Stewart Day. Since then, JD Sports has signed a deal to sponsor its home Gigg Lane.

And earlier this year, Cheshire East Council stepped-in to buy the freehold to Macclesfield's Moss Rose stadium, preventing the club from going into administration.

Gerald Krasner, a partner at Begbies Traynor, said a community interest company (CIC) structure could be key to the future of smaller clubs.

He said: “The relative fortunes of those at the very top and those at the foot of the league are getting further and further apart.

“The weaker clubs that are just staggering through the season are now locked into an inevitable downward spiral, and most clubs won’t attract a foreign billionaire to bankroll them out of their financial mess.

“Darlington, Eastbourne and Stenhousemuir in Scotland have all looked towards a CIC format to put down a stable, long-term ownership and funding structure.

“The best example of fan-owned clubs is Barcelona, which has proved that a more mutual approach can still bring big spending and success.”

Mr Krasner added: “If these clubs are cash strapped now, then they are likely to be in more trouble after the next transfer window, when the bank balances are at their lowest, unless directors show prudence and continue to curb the spending and manage costs sensibly.”

The report said attendances across the English league showed little improvement so far this season when averaged across all divisions, rising just two per cent.